October 30, 2013 / 6:46 AM / in 4 years

UPDATE 1-NORDIC STOCKS - Factors to watch on Oct 30

(Adds Storebrand, Orkla factors)

STOCKHOLM, Oct 30 (Reuters) - The following stocks may be affected by newspaper reports and other factors on Wednesday:


The Norwegian conglomerate reported third-quarter core earnings ahead of expectations and said the improvement from last year’s numbers was driven by acquisitions.

Operating profit before amortisations rose to 909 million Norwegian crowns from 868 million a year earlier and ahead of expectations for 871 million crowns in a Reuters poll of analysts.

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The Norwegian insurer posted second-quarter earnings far ahead of expectations on Wednesday and said costs cuts were driving results.

Storebrand’s group profit was 810 million crowns ($137.59 million), above the mean forecast of 644 million crowns seen in a Reuters poll of analysts, and against 458 million crowns at the same time last year.

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The Norwegian oil major reported third-quarter operating results above expectations and said it would spend more on exploration in 2013 than it earlier predicted.

Adjusted operating profit rose 1 percent to 40.4 billion Norwegian crowns, beating analysts’ expectation for 39.5 billion crowns.

Total equity production averaged 1.852 million barrels of oil equivalents per day in the quarter, above expectations for 1.84 million barrels.

Statoil will spend $3.75 billion on exploration this year, above an earlier target for $3.5 billion and it would drill 60 wells instead of a planned 50.

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Denmark’s second biggest bank by market capitalisation is expected to report a 26 percent fall in third-quarter pretax profit to 459 million Danish crowns ($84.73 million), dampened by lower core earnings and an increase in loan impairments. Results are due before 0800 GMT.

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The Finnish bank reported a 64 percent rise in quarterly pretax profit, helped by growth in its non-life insurance business.

Third-quarter pretax profit rose to 129 million euros ($177.63 million) from 79 million a year earlier, beating the average analyst forecast of 119 million in a Reuters poll.

Pohjola forecast its insurance business’ operating combined ratio, a measure of profitability, to be around 87-90 percent compared with an earlier outlook of 88-92 percent.

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The Finnish department store owner reported third-quarter operating profit of 10.7 million euros versus a forecast of 14 million euros ($19.3 million) in a Reuters poll and down from 17 million euros a year earlier.

The company said it expected group revenue this year below 2012.

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The Finnish construction group reported operating profit from continuing operations, or segments-based operating profit down 29 percent to 37.4 million euros ($51.50 million). The company warned in September that sales and profit would fall from a year earlier.

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The Norwegian publishing group reported third-quarter earnings slightly below expectations on Wednesday and said investments in new online ventures would remain high.

Its earnings before interest, taxes, depreciation and amortisation (EBITDA) fell to 437 million Norwegian crowns from 518 million crowns in the year-ago period, below analysts’ mean forecast for 445 million.

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